Tarsis Capital Corp.

Tarsis Capital Corp.

July 07, 2008 09:00 ET

Tarsis Capital Corp.: Massive Zinc Mineralization at Goz Creek

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that it has intersected massive and semi-massive sphalerite in diamond drill core on its 100% owned Goz Creek property, located in eastern central Yukon.

The Goz Creek property hosts Mississippi Valley Type (MVT) mineralization and contains an historic resource of 2,893,000 tons grading 11.25% Zinc in one isolated area referred to as the Main Zone. This equates to roughly 650,925,000 lbs of contained zinc metal. The historic resource is non-compliant with NI 43-101 and is not considered as current mineral resources by Tarsis and the historical estimate should not be relied upon.

On surface, the Main Zone is characterized by a series of float trains containing high concentrations of silica flood breccia float and subcrop heavily mineralized dominantly with yellow sphalerite. This mineralization is believed to be associated with a steeply dipping structural corridor cutting obliquely across the local dolostone stratigraphy.

DDH GOZ-08-58 was located at the northern end of the mineralized float train and intersected a structurally related silica flood breccia zone between 35.51 m and 98.90 m. The zone is moderately to heavily mineralized in two sections from 35.51 m to 76.19 m and from 93.80 m to 98.90 m. Mineralization consists of massive, semi-massive and blebby coarse yellow and red sphalerite. Photographs of the diamond drill core are available on the Tarsis website (www.tarsis.ca). Assay results will be published once they are received.

This particular drill hole in the Main Zone supports the structural interpretation of the geological model compiled earlier in the year in preparation for calculation of an NI 43-101 resource estimate.

The first two diamond drill holes of the 2008 campaign, GOZ-08-56 and GOZ-08-57, targeted possible extensions south of the Main Zone. Both holes intersected minor amounts of manganese rich massive red sphalerite.

Diamond drilling in the Main Zone is continuing and further results will be reported when available.

Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company is currently exploring Goz Creek and MOR and seeking joint venture partners for Erika (Mexico), Meister and Prospector Mountain.

The Company currently has 12,367,970 shares issued and outstanding.

William A. Wengzynowski, P.Eng. is the qualified person for the project and has reviewed the technical content of this news release.

On behalf of the Board of Directors,

Tarsis Capital Corp.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer

The TSX Venture Exchange does not Accept Responsibility for the Adequacy or Accuracy of this Release.

Contact Information

  • Tarsis Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Tarsis Capital Corp.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    Email: info@tarsis.ca
    Website: www.tarsis.ca